Hayneville, Alabama Property Taxes
The median property tax rate in Hayneville, AL is 0.45%, considerably lower than both the national median of 0.99% and the Alabama state median of 0.47%. With the median home value in Hayneville, the typical annual property tax bill reaches $413, significantly below the national median of $2,690. Property taxes in Hayneville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hayneville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hayneville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hayneville, Alabama Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$940
Ownwell’s Hayneville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hayneville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hayneville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hayneville, Alabama
Property taxes in Hayneville, Alabama, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Hayneville is 0.45%, which is significantly lower than both the Alabama state median and the U.S. national median of 0.99%. Local government entities within Hayneville set these rates annually, and they can vary across different neighborhoods. Each year, Hayneville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Hayneville's effective property tax rate to other counties in Alabama and the national median. For comparison, the 36040 zip code has the highest median property tax rate of 0.45%, while the same zip code also has the lowest median tax rate of 0.45%. Understanding how these cities compare with Hayneville provides valuable insights into the varying tax landscape across Lowndes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hayneville Tax Rate
0.45%
Average Lowndes County Tax Rate
0.45%
Average Alabama Tax Rate
0.47%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hayneville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36040 | 0.25% | 0.39% | 0.45% | 0.51% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Hayneville, Alabama
In Hayneville, Alabama, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Lowndes County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Hayneville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Hayneville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $413.00 in zip code 36040, which also has the lowest median tax bill.
Average Hayneville Assessed Value
$85,070
Average Lowndes County Assessed Value
$118,330
Average Alabama Assessed Value
$149,600
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hayneville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36040 | $44,706 | $61,820 | $85,070 | $137,870 | $220,100 |
Source: Ownwell
Property Tax Bills Across Hayneville, Alabama
In Hayneville, located in Lowndes County, AL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $85,070. Homeowners in Hayneville can expect their property tax bills to vary significantly, with the 25th percentile at $276 and the 75th percentile at $715. The highest median tax bill in the region is $413, reflecting a relatively low property tax burden compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. These taxes fund essential public services such as education, infrastructure, and emergency services. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual housing costs. Lower tax rates in Hayneville can make homeownership more affordable, contributing to long-term financial stability for residents.
Average Hayneville Tax Bill
$413
Average Lowndes County Tax Bill
$581
Average Alabama Tax Bill
$717
Average United States Tax Bill
$2,690
Property Tax Bills Across Hayneville, Alabama
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36040 | $148 | $276 | $413 | $715 | $1,066 |
Source: Ownwell